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Cyber Monday up 18.7 pct.
That growth in sales follows a disappointing weekend in brick-and-mortar stores.
NEW YORK - Power up and shop.
Millions of Americans took advantage of online deals ranging from free shipping to hundreds of dollars off electronics and half-price clothing Monday, which was expected to be the busiest online shopping day of the year.
The spending surge on so-called Cyber Monday came after a disappointing holiday weekend in stores. And it showed that Americans are increasingly comfortable buying items on tablets and smartphones.
Early results showed online shopping was up 18.7 percent compared with the same time last year, according to figures by IBM Benchmark. Mobile traffic, which includes smartphones and tablets, accounted for 30 percent of all online traffic.
Brandon Harris, 27, of Memphis, started shopping at midnight Sunday and by Monday had spent around $300 and completed half of his Christmas shopping, including a Barbie doll for his niece and a TV for his mother.
"I haven't shopped for a Christmas present in a store in three years," he said, making purchases from his iPad instead. "It's a lot more convenient to be at home and shop."
The National Retail Federation, a trade group, predicts more than 131 million people will shop online Monday, up about 2 percent from last year. Meanwhile, UPS expects to pick up more than 32 million packages on Monday, about a million more than Cyber Monday last year.
And research firm comScore expects Cyber Monday sales of $2 billion, up from about $1.47 billion last year. Online sales account for about 10 percent of total holiday spending, which is expected to grow about 3.9 percent to $602.1 billion for the months of November and December.
Joel Anderson, president and CEO of Walmart.com, said he anticipates Cyber Monday to be the site's busiest day ever. He said 2013 is the "tipping point" for mobile traffic, which includes smartphones and tablets.
More than half of Walmart.com's traffic came from smartphones and tablets on Thanksgiving and Black Friday, Anderson said. And he expected the same to be true on Monday.
He said "2013 is the year online went mobile."
Cyber Monday comes after retailers' failed efforts to boost spending during the holiday weekend. They offered big discounts in early November, and several opened stores on Thanksgiving. But the retail federation predicts that spending fell for the first time ever, down 2.9 percent to $57.4 billion, during the four days that ended Sunday.


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CVS Health Corp. reported stronger-than-expected fourth-quarter profit and revenues amid a rise in pharmacy sales and forecast a strong year ahead.
Net income fell to $975 million, or $0.74 cents a share, in the quarter ended Dec. 31, from $1.744 billion, or $1.34 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $1.30, topping analysts’ estimates of $1.24 per share.
Total revenue rose 4.0% to $69.55 billion, beating estimates of $68.73 billion, and primarily driven by growth in the health care benefits and retail/long-term care segments. Total same-store sales grew 5.3% during the quarter
Retail sales rose 6.6% to $24.062 billion as same-store sales increased 5.7%. Testing for COVID contributed about $400 million in revenue during the fourth quarter. CVS said it has administered about 15 million tests nationwide. It has also administered more than 3 million COVID vaccines in over 40,000 long-term care facilities.
For the coming year, CVS expects a $400 million to $500 million benefit from COVID-related activities.
CVS’s healthcare benefits division saw sales rise 11.4% to $19.1 billion as it added Aetna's operations to its legacy business.
Same-store sales in the pharmacy division rose 7.5% as prescription volume rose. Front of store comp sales decreased 1.8% primarily due to decreased customer traffic and reduced volume in cough and cold product sales largely as a result of the COVID-19 pandemic.
On the company’s earnings call, CVS president and CEO Karen Lynch, who replaced longtime chief executive Larry Merlo earlier this month, said the company is increasing investments into a wider range of health services. In 2022, CVS will reenter the individual public exchange created by the Affordable Care Act, which allows people to buy their own health insurance plans. Lynch said it will be the company’s first branded CVS Health Aetna product. The company did not disclose the geographies or cost of the plans, saying that more details will come in the second quarter.
For the full year, CVS total revenues rose 4.6% to $268.70 billion.
“We utilized the full depth and breadth of our capabilities and our presence in local communities across the country to play a leadership role in COVID-19 testing and vaccine administration,” said Lynch. “Our ability to deliver 2020 full-year results above expectations is a testament to the strength of our strategy and the flexibility of our diversified health services model. Our goal is to make health care more accessible, more affordable and simpler. In order to do this, we will accelerate the pace of our progress through targeted investments in key areas that will drive our consumer-focused strategy.”
CVS forecast adjusted earnings of between $7.39 and $7.55 per share for 2021, citing rising retail sales. The average estimate of analysts surveyed was $7.54.

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Dubai master developer Nakheel has signed a deal with Starwood Hotels & Resorts Worldwide to open The St. Regis Dubai, The Palm. Slated to open in 2018, the 289-room hotel will be part of The Palm Tower, a 52-story mixed-use luxury development on Palm Jumeirah island. This signing marks the fifth St. Regis hotel to open in the United Arab Emirates.
In a statement, Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East said that the signing “underlines the strong demand for high-end hotel accommodation in the UAE." The deal also makes Dubai the first city in the world with three St. Regis hotels.
One of 10 new hospitality projects by Nakheel that are underway in Dubai, St. Regis is the latest in a growing list of luxury hotel brands on Palm Jumeirah. Another Starwood property, W Dubai – The Palm, is slated for a 2017 opening. Construction on the new St. Regis is "ongoing" and completion is currently scheduled for 2018.
St. Regis made its debut in the Middle East in 2011 with The St. Regis Saadiyat Island Resort, Abu Dhabi and has grown its portfolio in the region with The St. Regis Doha, The St. Regis Abu Dhabi, and now, the newly opened St. Regis Dubai. In 2017, the brand will enter Jordan with The St. Regis Amman and will also open its first polo resort, The St. Regis Dubai Al Habtoor Polo Resort and Club.


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If an investment company has just become a 10% shareholder in a business, it’s often worth taking a closer look. These companies do their research, and if they’re making a substantial investment in a stock, it’s usually because they see the potential for significant upside.
In this report, we are going to highlight some interesting 10% shareholder buying activity at HP Inc (HPQ:US). HP is a technology company that manufacturers computers, printers, and other electronic devices. In 2021, the group was the second largest computer manufacturer globally, behind Lenovo. The company is listed on the New York Stock Exchange and currently has a market capitalization of $39.46 billion.
HP Has a New 10% shareholder
Our data shows that recently, Warren Buffett’s investment company, Berkshire Hathaway, has become a 10% shareholder in HP. In total, Berkshire has purchased around 121 million shares in the technology company, which equates to a 11.4% stake. This trade cost Berkshire Hathaway around $4.2 billion.
More Insider Activity at HP
Interestingly, this is not the only insider activity at HP recently. Indeed, our data shows that on March 31, board member Bruce Broussard bought 6,810 HP shares at a price of $36.67 per share, spending around $250,000 on stock. This trade increased the size of his holding by around 130%. The fact that the insider increased the size of his holding by such a large percentage suggests he’s very confident the stock is set to rise.
Does Buffett See Value in HP Stock?
As for why Buffett is buying HP stock right now, it’s most likely related to the fact that the stock looks very cheap right now. For the year ending October 31, 2022, Wall Street analysts expect HP to post earnings per share of $4.29. At the current share price, that puts the stock on a forward-looking price-to-earnings (P/E) ratio of about 8.1. That’s well below the average market P/E.
And the company appears to have momentum right now. For the first quarter of fiscal 2022, net revenue was up 8.8% to $17.0 billion. Meanwhile, non-GAAP diluted earnings per share came in at $1.10 – above the previously provided outlook of $0.99 to $1.05 and also above the consensus forecast of $1.02. On the back of the strong performance, the group returned $1.8 billion to shareholders via share repurchases and dividends during the quarter.
In light of the valuation here, we see the buying activity from Berkshire Hathaway as a bullish indicator. The fact that Buffett has become a 10% shareholder suggests that he sees considerable upside from current levels.


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By Harry B - Crypto Specialist - 01-10-2021
Buying and selling crypto art has become one of the top new ways of investing. Traders who initially invest in cryptocurrency look toward other volatile markets like non-fungible tokens (NFTs). The NFT market contains endless collections ranging from digital art to game characters.
A video-focused social media app has also taken to the NFT market to produce its own collection. TikTok, a social media platform specialising in short-video-based content, has announced its first NFT collection TikTok Top Moments, which is now available for purchase in the market. Reportedly, the new collection was made by the app's users known as "TikTokers," which were inspired by the platform's videos.
TikTok Top Moments will ultimately help artists be acknowledged and realise their objectives within the TikTok community, which will benefit the general public. According to the creators of the NFTs, the new collection will help content producers of the platform gain deserved recognition worldwide. By utilising the NFT marketplace, TikTokers may be able to receive incentives to help them with their content creation.
According to CoinQuora, the social media platform's users will witness a "valuable and culturally significant" event on TikTok. The article regarding the TikTok NFTs further explained that investors could buy the collection through the Ethereum (ETH) network and will be driven by Immutable X. Because the creators of the collection are utilising Immutable X Layer-2, this means investors won't need to pay gas fees.
If you are looking to Buy and Sell cryptocurrency, then you can head over to BC Bitcoin where you can safely trade crypto today.


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The Oppo F5 had a Youth version which had slightly downgraded specs when it launched in India last year. With the confirmed launch of the Oppo F7, a poster of the Oppo F7 Youth has now appeared online. The Youth variant also cost a bit less than the standard variant so we can expect the same thing this time as well.
In fact, the poster shows three variants of the F7. The standard variant is a given, there’s a 128GB variant and an Oppo F7 Youth variant. Other than that, it also shows a 25MP selfie shooter will be a common thing in all these three handsets. Oppo has already announced the launch event will be inaugurated by a number of Indian cricketers. The poster also has some of them on the phone’s display.
The Oppo F7 is expected to be a copy of the Oppo R15 that is also expected to launch this month. It features a notch design with a supposed 6.2-inch display. Oppo is likely to pack a MediaTek chipset in the handset as it did with the Oppo F5. More specs of the handset have not surfaced yet. The selfie shooter should also come with some software tricks like AI beautification and more such stuff.
The Oppo F7 launches on March 26 as declared by the brand on its Twitter handle.


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Every day we wake up, drink a cup of coffee, and get ready for work. Following are a handful of stories from around the tech world condensed to fit into a single cup of coffee. These are the things you need to know before you step foot out of your door (or in front of a webcam) and into the real world this morning.
So sit back, grab a cup, and start your morning off right with a few “Quick Bytes” from Innovation & Tech Today.
Microsoft Plans to Add ChatGPT to Suite of Products
Microsoft is planning to add AI technologies, including ChatGPT, into its suite of products and make them available as platforms for other businesses to build on, Chief Executive Satya Nadella said at a Wall Street Journal panel at the World Economic Forum’s annual event in the Swiss mountains Monday.
That means OpenAI’ chatbot technology could be included in Word, Outlook and PowerPoint in the near future.
Microsoft invested $1 billion in OpenAI in 2019, and is in talks to invest another $10 billion in the company.
TikTok Agrees to Greater Transparency
TikTok has developed a reputation for being little more than Chinese spyware in the last few years. Now, as negotiations between the Chinese-based app and U.S. regulators continue, TikTok executives are trying a new approach: greater transparency.
Lawmakers recently called for a ban on the app in the U.S., sparking a $1.5 billion plan to reorganize the company’s U.S. operations.
“TikTok is hoping that details of its planned reorganization—and promised measures to ensure oversight of its content-recommendation algorithms—will convince potential allies in Washington of its ability to operate independently of its parent company, China-based ByteDance Ltd.,” the Wall Street Journal reported Tuesday.
New Laser Tech Guides Lightning
Lasers. They seem to be the solution to many of the world’s biggest challenges; scientists recently used pulsed lasers to control a fusion reaction that could have major implications for the future of sustainable energy.
The latest “laser-focused” breakthrough uses the highly concentrated beams to safely direct lightning away from vulnerable infrastructure.
Scientists successfully demonstrated the method during a storm in Switzerland, showing that a powerful laser beam directed at the sky can create a “virtual lightning rod” that can divert the path of lightning strikes.
YouTube is Testing Free Streaming Hub
YouTube is looking to expand its platform by testing out a new hub of free, ad-supported streaming channels.
Technology may not be cyclical, but the move sounds a lot like cable with “extra steps.”
The Alphabet Inc.-owned video platform is in talks with entertainment companies about featuring their shows and movies in the hub of cable-like channels and is testing the concept with a small number of media partners. It could launch the offering more broadly later this year.


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In a move that could spell trouble for the company if consumers don't react well, Apple will not allow users to access its Boot Camp dual-boot solution unless they upgrade to Mac OS X 10.5 Leopard once the New Year rolls around.
Since its inception, the popular Apple solution that allows users to run Windows and Mac OS X on the same hard drive has gone through a number of changes that has ultimately brought it to its current support for both Windows Vista and Leopard.
Boot Camp was never a Tiger product
But according to Apple, Boot Camp was always designed with Leopard in mind and it was released earlier on Mac OS X 10.4 Tiger to work out issues and find any bugs before its final release for Leopard.
"We hope you've enjoyed the opportunity to preview an exciting new feature of Mac OS X Leopard," Apple said in email to current Boot Camp beta testers on Wednesday. "With the introduction of Leopard, the Boot Camp Beta program has ended."
The Boot Camp beta will expire on 31 December and Apple has indicated that users can upgrade to the new Boot Camp free of charge once they have Leopard installed.
Google Maps adds feature that will find you
Google has unveiled a new feature in its Google Maps application, which will allow phone users to make it mimic a real GPS device. According to the company, the new feature called My Location, pinpoints the exact location of a mobile phone and will highlight it on a given map on the device.
So far, the application is in beta and it works with all versions of the Blackberry, Symbian Series 60 and Windows Mobile devices. iPhone support has yet to be announced.
And the rest...
If you have ever wanted to lift your HDTV into your ceiling, but never found a viable way to do it, you might be in luck. According to a company called Chief Manufacturing, its new system known as the Automated Ceiling Lift "will make your TV like a drop-down projection screen." Amazingly, it can handle sets up to a 61-inch HD TV or up to 86kg. Pricing and availability are still unknown.
Rambus, a relatively well-known memory maker, has announced that it will produce a 1TB per second computer memory chip under the auspices of its very own Terabyte Bandwidth initiative. The improved memory will be able to attain about 16 times the speed of current DDR2 memory and so far, the company is unsure of when it will be made available.


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Chinese manufacturer Xiaomi has partnered with Dixon Technologies to set up a new manufacturing plant in Tirupati, Andhra Pradesh and is also planning to manufacture its Mi LED TVs in the country as well. This was Xiaomi’s another step towards India’s ‘Make In India’ initiative.
The new Mi LED TV manufacturing plant spans across an area of 32 acres and will employ more than 850 people. As per the company, it will have a production capacity of 100,000 Mi LED TVs per month by the first quarter of 2019. Initially, Xiaomi will start with a local assembly of the 32-inch Mi LED Smart TV 4A and 43-inch Mi LED Smart TV 4A that was launched earlier this year. After the first quarter of 2019, it will look at the local manufacturing of the recently launched 49-inch Mi TV4A Pro and 32-inch 4C Pro.
Xiaomi has 8 units of an overall manufacturing plant that spread across 3 states in India including six smartphone manufacturing plants in partnership with Foxconn and Hipad Technologies across Sri City, Andhra Pradesh; Sriperumbudur, Tamil Nadu; and Noida, Uttar Pradesh and a power bank plant in partnership with Hipad Technologies in Noida.
At the inauguration event, Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India commented “After a successful smartphone journey, we are beginning a new chapter with Mi LED TV manufacturing in India. We are already the number one Smart TV brand in India, and we hope that with our increased focus on local manufacturing, we would be able to increase our supply.”
On the occasion last week, Andhra Pradesh’s Chief Minister N. Chandrababu Naidu shared his vision of making the holy city of Tirupati an IT Hub by offering a one-stop solution for leading electronics players. On this decision, Minister for Information Technology, Nara Lokesh also expressed his belief that Xiaomi’s manufacturing unit would further advance the state’s aim of making it the electronics hub in the future. Dixon Technologies India’s Executive Chairman Sunil Vachani commented that the partnership would definitely benefit the consumers with Dixon’s manufacturing experience and Xiaomi’s innovative solutions.


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The global automotive market is continuing to grow, according to analysis carried out by just-auto. However, demand in key markets is easing as concerns rise over the outlook. Dave Leggett provides a commentary.
The global automotive pie is growing in 2018. Our analysis shows that the Q2 annualised sales rate for the global light vehicle market was up 3.8% on last year’s pace at just over 97m units. The market is closing in on 100m. By the year-end, we’ll be talking about another record year, with China posting over 30m units, the US close to 17m and Western Europe over 14m again. Emerging markets such as Indonesia and India are also making a growing contribution to the annual tally. Global economic growth for 2018 and 2019 is projected by major forecasters at close to 4% in each year – a respectable level by historical standards.
However, there are concerns over the underlying health of the industry and prospects that are not easily dismissed. Indeed, they were highlighted in some of the company details in the latest round of quarterly financial reports. For the OEMs, bottom lines are clearly coming under pressure. The Chinese market is indeed growing again this year, but it has also become a lot more competitive and many analysts see a period of slower market growth ahead. China’s automotive sector could face a period of overcapacity which would compound difficulties for OEMs in what is already a very competitive market (BMW was among carmakers who saw first half sales down).
The world’s second biggest market – the US – is also topping out and becoming more competitive, incentives up. North America has been extremely lucrative for Detroit as it bounced back rapidly from the last recession, but the latest financial results clearly show that it has become a more difficult demand environment, margins under pressure.
And then there are question-marks over prospects for the global economy and the risks that come from rising trade tensions and newly imposed tariffs. The automotive industry, with its complex products and global supply chains, is particularly vulnerable to additional costs applying to international trade. Investment is deterred by uncertainty over things like trade rules and costs. Laws of unintended consequences can also follow as future manufacturing investment flows are impacted in directions that policymakers had not intended. The US auto industry is well aware of the negative competitive effects that can follow import tariffs designed to help it. The German auto industry, a major source of FDI to the United States, has objected strongly to new US import tariffs on aluminium and steel, as well as those applying to a host of Chinese products that provoked retaliation. New US import tariffs applying to a range of goods, including cars, have been met with retaliatory tariffs imposed on imported US goods by China. And that has, somewhat ironically, hit vehicle shipments to China from foreign-owned plants in the US (eg Mercedes and BMW). Vehicle makers are monitoring the situation closely and are clearly reluctant – in a highly competitive market – to fully pass on new tariffs to customers, which means they have to accept lower margin on vehicles sold.
The International Monetary Fund (IMF) has said that the balance of risks has shifted further to the downside.
Over the next 2-3 years, what happens to the international trading environment will impact the auto industry both directly (immediate financial impacts through higher costs to international trade) and indirectly. The indirect feedback loop is via lower global economic growth and lower sales of cars and trucks as a result. In its latest economic report (July), the International Monetary Fund (IMF) said that the balance of risks has shifted further to the downside, including in the short-term. It warned that the ‘recently announced and anticipated tariff increases by the United States and retaliatory measures by trading partners have increased the likelihood of escalating and sustained trade actions’. And these could, it said, ‘derail the recovery and depress medium-term growth prospects, both through their direct impact on resource allocation and productivity and by raising uncertainty and taking a toll on investment’. Thus far, the picture has varied, risks oscillating. US President Trump has initiated some actions and threatened to take others. But he has also stepped back on occasions, apparently satisfied that sufficient progress has been made to at least address US concerns over trade imbalances and unfair practices (for example, in the agreement to work together with the EU to reduce tariffs on US-EU bilateral trade).
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As the VDA President, Bernhard Mattes, recently put it, the de-escalation signal is important and represents a big step forward following the developments of recent weeks. It means that now a real opportunity exists that additional import duties – not to mention a trade war – can be avoided between the US and the EU. He also added that it is all the more important that a comprehensive solution to the tariff disputes should be found, including other countries affected – such as China, Mexico and Canada.
The international trading environment has clearly become a more volatile one and it is a development in the macro environment that we need to keep an eye on in the coming months. The automotive industry is in the front line and rightly concerned, even as the overall market continues to grow.
Regional issues ahead
- Will the US light vehicle market reach 17m (17.2m last year) units in 2018? It will be a close-run thing.
- Will OEMs exposed on trade tariffs and with US manufacturing bases reconsider sourcing strategies and shift allocations around the world (Volvo already has)?
- Can Jeep continue its recent US sales surge?
- NAFTA participants appear close to an agreement on content rules for trade in cars, but will they get over the line, agreement and stability restored?
- To what extent will WLTP introduction in September boost (pull-forward effect) the European car market in August? And what will the impact on production schedules be after September 1 as OEMs push for testing compliance across model ranges?
- Will the West European car market hit 14.5m units – a historically high level – in 2018? If it does, where does that leave 2019 prospects, especially given it is the year of Brexit?
- How far will the loss of diesel share in the car market go?
- Can Russia’s recovering car market continue to grow if energy prices stabilise?
- Economic growth in China is projected to moderate from 6.9% in 2017 to 6.6% in 2018 and 6.4% in 2019, as regulatory tightening of the financial sector takes hold and external demand softens. How will that impact car demand, which is already softening in 2018?
- Will softer demand herald an industrial shakeout as margins generally come under pressure and smaller OEMs/brands competitive weaknesses are increasingly exposed?
- Keep an eye on electric vehicles and NEVs. There are lofty ambitions in Beijing for higher sales of NEVs, but will the SUV obsessed market take to them in big numbers?


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Tue, 28 Jun 2022 05:37 PM IST
Food delivery app Zomato suffered a loss of nearly USD 1 billion as the shares of the company tanked by nearly 8.2 per cent on Tuesday amid concerns over the company's proposed acquisition of Blink Commerce Pvt Ltd (formerly known as Grofers) for Rs 4,447.48 crore. This is the second consecutive day when the restaurant aggregator suffered losses in the share market.
The food delivery app on Friday announced the acquisition of Blinkit for Rs 4,447 crores ($568.16 million) in stock in order to take hold of the competitive quick delivery market. The deal comes after it bought a more than 9 per cent stake in SoftBank Group-backed Blinkit for nearly Rs 518 crore in August, with a promise to invest as much as USD 400 million in the Indian quick-commerce market over the next two years.
The shares of the company fell nearly 14 per cent ever since the announcement was made, leading to a loss of almost 76.78 billion Rupees in market capitalization. They are also down nearly 48 per cent since going public last July. According to a Morgan Stanely client note, the total outstanding shares of the company will decrease by about 7.25 per cent after Zomato will issue its new shares to Blinkit.
The e-commerce sector is growing with rapid speed with rivals Swiggy, Reliance Industries-backed Dunzo, Tata-backed BigBasket, and Zepto making big investments. The industry was worth USD 300 million last year and is expected to see a growth of 10-15 times to USD 5 billion by 2025, according to research firm RedSeer.
"E-grocery economics have been tough to crack given price competition, relatively lower-margin nature of the category, high number of products per order which need efficient fulfillment, and very high competition," Kotak analysts said, as quoted by Reuters.
A report by ANI also suggests that the shares of Zomato have seen a fall of 53 per cent in 2022, on a cumulative basis. Punit Patni, Equity Research Analyst of Swastika Investment on the decline of Zomato shares, said that the recent acquisition by Zomato will add to the company's operating losses.
"Blinkit is synergistic to Zomato's food delivery business and the management expects the business to grow significantly in the future. The quick commerce market, however, has become incredibly competitive, and it will take a very long time to figure out the unit economics and turn profitable", he said as quoted by ANI.
(With Agencies Inputs)


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ECB Analysts Point to Benefits of Launching Digital Euro
A group of experts from the European Central Bank published a report in which they noted the need for a qualitative modernization of the payment infrastructure.
One of its authors and a member of the Executive Board of the ECB Fabio Panetta noted that they are considering the option of modernizing the financial system by launching a digital version of the euro. In addition, researchers believe that it is necessary to gradually introduce blockchain technologies into the work of the European banking sector.
Note that the central banks of France and the Netherlands previously announced their intention to test the digital currency (CBDC), pegged to the euro.
Panetta emphasized that the modern financial system of the EU is largely based on banks. Retail payments are processed by operators such as Visa, MasterCard and PayPal.
The ECB wants to reduce transaction costs for cross-border transfers. This can be done by creating an ecosystem based on digital currency. In the context of the coronavirus pandemic, the Central Bank was seriously thinking about creating a single digital asset, Panetta noted.
However, he added that the release of CBDC in the eurozone does not mean crowding out other instruments. The emergence of a regional digital currency should not put an end to the work of private payment systems.
Author: Marko Vidrih
Featured image credit: Pixabay


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Sometimes the myths we know about food and eating are
There are few things more terrifying in this world than the possibility that we won’t be able to access chocolate anymore, but if you’re not a chocoholic don’t worry: the fear of luxury food shortages will reach us all. Here are the most terrifying shortages to prepare for.
1. Bourbon and whiskey
Due to the fact that these drinks require 8-10 years of aging at minimum, distilleries simply can’t keep up with demand. Some makers are diluting their liquor, while others are just raising prices.
Although this scare turned out to be more marketing tactics than actual shortage, wine availability was decreasing until 2012, but started to bounce back in 2013.
Almonds are one of California’s biggest exports, but due to the huge drought in California, almond crops are failing. Prices have been jumping as a result and aren’t expected to fall any time soon.
Another problem with droughts has impacted olives. Spain is the largest producer, but after a seriously hot summer in 2013 and 2014, there’s a serious lack of olives and olive oil on the market.
5. Goat cheese
More and more people are starting to love the flavor of a good goat cheese, but unfortunately that raised demand can’t be met by producers. New producers are trying to get into the business, but the milk is already spoken for by the established cheesemakers. There has also been a cull of goats after a bad fever went around, making the milk even more rare.
Brazil is currently in the midst of one of its most serious droughts in history, which is bad for coffee lovers because Brazil is one of the main producers of coffee beans.
The Ivory Coast is one of the biggest producers of cocoa beans, and just like many of the other shortages, there’s been drought conditions there in the last few years. That’s led to short supply and higher prices.
8. Sriracha sauce
One brief but utterly terrifying shortage was caused when the factory that made sriracha hot sauce had to close down because the fumes were causing neighbors problems like headaches and burning eyes. They managed to stay in business though, and the shortage was averted.


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US is first choice for Brits
AMERICA has become the favourite destination of British holidaymakers. Four of the top five summer holiday spots are in the US, figures out today show.
Experts said that the weakness of the dollar was tempting travellers, with the cost of hotels, food and shopping at an all-time low.
The top destination is Orlando, followed by New York, Los Angeles and San Francisco. Faro in the Algarve, Portugal, is the only European destination to make the top five. Only three of the top 10 resorts are in Europe.
As well as American holidays, Britons are opting for long-haul trips to Dubai, Sydney and Bangkok.
Five years ago, more European cities such as Amsterdam, Rome and Madrid were among the most popular destinations, with 70% of British holidaymakers opting for a short-haul break.
A spokesman for the Association of British Travel Agents said: 'The dollar has been weak against the pound for the past two years and this, in conjunction with some of the most competitive transatlantic air fares we have ever seen, means we're expecting to see a record number of British people travel to the US.
'Things have recovered after 9/11 as flights to the US bounced back pretty quickly.'
Today's figures are published by internet travel agent ebookers and are based on bookings it has received for July and August. Marketing director Chris Sherlock said: 'We've seen a trend in the past five years for the traditional European break to be more of a weekend indulgence, to be taken a few times a year.
'As such, Britons are travelling further than ever for their summer holidays. The competitive dollar exchange rate has a lot to do with the current popularity of US destinations.
'In terms of air travel it costs just 4p per mile to travel to US cities like New York and Los Angeles, which coupled with the favourable exchange rate, makes the US a very attractive destination.'
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Top 10 destinations 2005
Top 10 destinations 2000
• THIS is Money revealed in April how holidaymakers could get 12.3% more Mauritius rupees for their pound than they could a year ago, and 11.8% more Indonesian rupiah. The pound also bought 4% more Jamaican dollars and 3.6% more Hong Kong dollars. Read the full report.
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- H&H Classics auctions the classic 1983 Ferrari 308 GTB QV


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“The great mask debate in the free world no longer interests me, if there are people being virtually gagged in the pandemic’s country of origin.”-Mothering Humanity
Continuing in the same vein as last week’s blog post on censorship within social media. I was surprised and alarmed to find that it’s not only private Facebook groups that are being moderated and their narratives steered. An entire application can be commandeered, its message dictated, and its users silenced. It happens in China, daily, and it’s happening right now with the coronavirus.
Various news agencies including BBC News, NPR, and the New York Times, as well as the internet watchdog The Citizen Lab from the University of Toronto, Canada have all reported on the oppressive and tyrannical actions taken by the Chinese Government to silence social dissent and unrest on social media, and most recently in regards to the coronavirus. Although it’s been hard for the government to keep up on the sheer mass of social media and government criticism as of late, it seems one of the country’s most popular social media apps, WeChat, is only getting better and better at its monitoring methods and its censorship tactics.
WeChat (also known as Weixin)–with 1.15 billion users–is an all-in-one, super-charged social media app that is hailed by some critics as the future of mobile app technology. In Mahoney and Tang’s book Strategic Social Media, they claim:
“It offers a wide range of functions from sending a baby photo to friends, getting news, text messaging, to finding a cab on the street. Weixin is more than a combination of Facebook, Instagram, Twitter, Snapchat, and eBay. Audiences can do almost anything via Weixin, which makes the platform particularly appealing.”
“Sure, over a billion users have a highly-functional app in the palm of their hands that helps them avoid app-hopping for different services, but at what price to privacy and autonomy?”
One thing the book fails to mention in their glowing review of the app is the criticisms and backlash WeChat and its parent company Tencent has received for its cooperation with the Chinese Government to monitor and censor its users in an unethical way that infringes on individual freedoms and human rights.
Sure, over a billion users have a highly-functional app in the palm of their hands that helps them avoid app-hopping for different services, but at what price to privacy and autonomy? China is a dictatorship, and they are not shy about it. If the popularity of this app spreads around the world (there are already thousands of international users) and becomes a mainstay in social media, what will we be agreeing to?
This is an application owned and operated under a communist dictatorship. Privacy and security laws there are much different from the protections I enjoy as a European Union resident, and as a frequent user of U.S.-based app technology. Until coming across WeChat and researching their background, I have to admit that I would hop on my app store and download an app without even taking these sorts of things into consideration. I can’t tell you how many times I breezed through a “user agreement” to accept it and just hit download.
The great mask debate in the free world no longer interests me, if there are people being virtually gagged in the pandemic’s country of origin. If you want to read up on the type of word combinations WeChat specifically monitored and censored as part of the coronavirus, and how the Chinese government sought to spin their response to the pandemic in the news, I would highly recommend checking out the report from The Consumer Lab.
If you’re wondering why I’m bringing up this sort of subject two weeks in a row, it is because I want to share my media literacy with you, so we can grow together as an online community. Media literacy is defined in Strategic Social Media as “the ability of users to critically access, analyze, evaluate, and create messages in a variety of forms.” In other words, I’m becoming a more intelligent consumer of online information, so I can more effectively discuss powerful and note-worthy messages with you!
Looking forward to our future conversations…
Featured Image Photo by Anna Shvets from Pexels
2 thoughts on “How Chinese Censorship Practices Could Effect You”
I enjoyed reading your post – definitely brought a different perspective to the Weixin app. And while I do agree that the censorship and monitoring of the app does take away personal freedoms and sense of security for users. I won’t argue with you there – living in the U.S., I don’t take my freedoms lightly (heck just look at the past couple of week how TikTok has caused such a media frenzy with Trump). But, the app itself, regardless of the country/government it “belongs” to, is fundamentally a great concept. There is no doubt that the emergence of social media has made our lives more convenient, and having an app that does it all is genius (in my opinion). Weixin directly feeds into habitual consumer behavior. By offering a space to literally do it all, the app becomes a part of consumers daily routines. And while Weixin, yes ethically may be questioned, the concept behind the app is great marketing – Thoughts?
Hi Kristine. Now this is a post! The title itself pulled me straight in. I don’t know if that means I enjoy controversy or drama but I do enjoy reading content that is out of the ordinary and against the odds. The details and conversation narrative had me eager to continue reading to learn why WeChat is that the app that everyone should trust so easily. And yes I am also one who just bypasses an app terms and conditions and privacy statements. Some apps maybe but I tend to skim some that I feel that are widely invasive along with companies who’ve updated their terms.
The content provided together with the supporting articles where like sound effects with every direct opinionated statement. Facts on top of Facts! Great job with this, and the closing of the post was like the finishing ingredient.The conclusion of your post was almost like a cliff hanger, I wanted to read more! I look forward to your next post following this discussion.


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POStPlan, the Postal Service’s plan to reduce hours at 13,000 post offices, was not invented out of thin air. The Postal Service has been reducing hours at post offices for many years. But try getting any information from the Postal Service about the scope or effects of those reductions.
In 2004, the GAO issued a report about efforts to optimize the retail network, and it discusses reducing hours at post offices. After noting that the Postal Service closed 440 post offices in 2003, the GAO says, “According to USPS, it has also adjusted hours at existing post offices from time to time to reflect customer demand.”
The GAO asked for details, but the Postal Service “could not provide information on the number of post offices where changes in hours occurred in fiscal year 2003.”
What we’ve got here is a failure to communicate
The GAO report goes on to explain how the Postal Service adjusts hours based on the number of transactions and customer visits. The GAO then states, “USPS reported that its efforts to increase efficiencies in its retail area have resulted in a decrease of almost 5 million workhours from fiscal years 2002 to 2003.”
Given that this number appears at the end of a paragraph about reducing hours at post offices, one might get the impression that the 5 million workhours were eliminated thanks to these reductions. But that’s probably not the case. If the reduction in hours of operation averaged 4 hours a day per post office, 5 million hours would involve 4,800 post offices.
It’s not likely that the Postal Service reduced hours at nearly five thousand post offices in one year. The 5 million workhours must include many other ways to reduce retail hours, like opening fewer windows in post offices where there are several and eliminating window clerk jobs.
The GAO report thus offers no relevant information about cutting hours of operation at post offices. It contains no details about how many post offices had their hours reduced, how many hours the average reduction was, or how the reductions impacted revenues, customers, and communities. The Postal Service “could not” provide this information — or it would not.
Given the Postal Service’s inability or unwillingness to share information about its practice of reducing hours, it should come as no surprise that the 2004 GAO report is entitled “USPS Needs to Clearly Communicate How Postal Services May Be Affected by Its Retail Optimization Plans.”
The GAO’s main recommendation is that the “Postmaster General provide improved transparency and communication to Congress and other stakeholders through additional information related to its retail optimization initiative, including the criteria USPS will use to guide its decisions; USPS’s process for involving stakeholders; the impact on customers; and the time frames for implementation.”
As the report explains, “Stakeholders, who are a critical component of implementing successful changes, have raised concerns about potential changes to USPS’s network. Specifically, as previously mentioned, stakeholders have been concerned about a perceived lack of communication throughout USPS’s decision-making process. Examples include insufficient information regarding potential changes such as closing post offices or making adjustments to post office hours.”
Still no answers on revenue losses
Jump ahead eight years to POStPlan, the Postal Service’s latest initiative to cut costs in the retail network. The Postal Service is still having transparency issues.
The total number of operating hours for the POStPlan post offices will be reduced from about 35 million a year to 25 million (table here). It’s obvious that cutting total hours by almost a third will have a serious impact on revenues.
The Postal Service says POStPlan will save $500 million a year, but it refuses to provide an estimate for lost revenues, has not commissioned market research on the question, and will not share any data about how revenues have been impacted at post offices where hours have been reduced in the past.
The POStPlan list has 1,550 post offices currently operating at 2, 4, or 6 hours a day (Level 51, 53, and 55). Presumably at some point these post offices operated a full 8 hours a day. How difficult would it be to look at the revenues at these offices to see how they declined when the hours were reduced, as well as checking the revenues at neighboring offices to see how much of this lost revenue may have been gained at other offices?
Asked by the PRC about potential revenue losses POStPlan might cause, the Postal Service said that it had “made efforts to estimate the POStPlan’s expected impact on revenue, but has been unable to identify or determine any accurate method for doing so. This is true, at least in part, because the Postal Service has not reduced window service hours in this manner before and therefore has no empirical evidence on which to base such an estimate” (POIR 1-11).
Apparently the qualifying phrase “in this manner before” is necessary in order to make this statement true. The Postal Service has definitely reduced service hours before — just not “in this manner” — and there should be no shortage of “empirical evidence” to make an estimate of lost revenue.
The Commission subsequently posed the question another way: “From time-to-time, the Postal Service has changed the number of window hours at Postal Service retail facilities. Has the Postal Service measured the effect of such changes — whether the hours are increased or decreased — in terms of revenue, costs, community impact, and other effects? Please provide a description of all such analyses, and an explanation of how these measurements were developed.” The Postal Service replied that it had “not undertaken such analyses” (POIR 2-11).
What happened in Gwynedd
There’s at least one community where people know how reducing hours can affect revenues. Last year the Postal Service closed the historic post office in Gwynedd, Pennsylvania. At some point over the past few years, the hours at the office were reduced to 8 a.m. to 11 a.m., Monday through Friday; weekday afternoons and Saturday hours were eliminated.
In March 2011, the Postal Service held a meeting to discuss closing the post office. It was standing-room-only. When the USPS customer service analyst explained that one of the reasons for closing the Gwynedd post office was declining revenues, several attendees shouted back that of course there would be a decline in business when the hours were cut in half. As resident Kelly Gerald told the Postal Service representative, “”It’s also been three years of you reducing the hours, reducing the services. You designed a system to make the post office fail.”
What happened in Gwynedd will happen many times over once POStPlan is fully implemented. The Postal Service will cut the hours at your post office, then review revenues the following year, cite the inevitable decline as cause for reducing hours further, and eventually use the continuing declines as a reason for discontinuing the office completely. The Postal Service has designed a system to make post offices fail.


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White Castle is recalling some but not all of its frozen burgers due to a possible listeria contamination.
The bacteria was found in one of its manufacturing plants and affects the following items:
Frozen six-pack cheeseburgers, hamburgers and jalapeno cheeseburgers, as well as frozen 16-pack hamburgers and cheeseburgers, according to a notice posted Friday by the U.S. Food and Drug Administration.
The products being recalled have expiration dates ranging from Aug. 4, 2020, to Aug. 17, 2020, the company said.
Listeria can cause serious infections among infants, the elderly and those with weakened immune systems.
Symptoms of listeria include: high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea.


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EA has announced that the Commander & Conquer Remastered Collection will be released on June 5th via Steam and the Origin store.
The compilation has been in the works for the last couple of years with work being conducted by many of the original developers from Westwood Studios, as well as some of the "most influential members of the original Command & Conquer development team from 1995". The team has included the likes of Joe Bostic, who's credited as the co-creator of the series, and was lead programmer on Tiberian Dawn and Red Alert, as well as other well-known veterans like Steve Tall, Ted Morris, and Mike Legg.
The remastered compilation consists of Command & Conquer: Tiberian Dawn, Command & Conquer: Red Alert, plus three expansion packs – Covert Ops, Counterstrike and The Aftermath, and is part of the 25th anniversary celebrations for the series.
The compilation offers modernised and revamped graphics and textures, support for 4K resolution, and some other tweaks too. The UI has been overhauled with new controls, a new map editor feature, and other additions with the development team accepting input from community members during the making of the game.
There's also set to be changes to the multiplayer with improvements to matchmaking, the option to view match replays, and leaderboard functionality. Tiberium Dawn also benefits from a much requested Skirmish Mode too. The soundtrack has also seen a remaster with over 7 hours of the music tweaked by the original composer, Frank Klepacki.
Besides the digital release, there's also a limited number of physical special editions available via Limited Run Games. This includes a Tiberium crystal shaped USB stick, a soundtrack album, reversible poster, enamel pins, tech tree prints and a faction sticker sheet. Expect to pay $60 for the privilege which is considerably more than the £18 asking price for the digital copy, but could be worthwhile for hardcore fans.
The game will launch June 5th and is available for pre-order now.
System requirements have already been announced and they're predictably very low with an Intel Core 2 Duo E4600 or above doing the job.
October 14 2021 | 15:04


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Coras, a Dublin, EIRE-based event ticketing platform, raised €1.9m in funding.
The round was led by Atlantic Bridge University Fund with participation from Edge from U2, Hambro Perks, Elkstone Capital, and Dave Burke.
The company will use the funds to continue to develop the infrastructure and launch the platform.
Led by CEO Mark McLaughlin, Coras connects tickets to customers through a global distribution platform so they can purchase tickets through any Coras-connected site. Its pool of ticket inventory will be connected to some of the biggest online brands via an API integration, enabling these brands to sell tickets in addition to their core offering.
Ahead of launching this year, first ticket inventory partners include Nimax Theatres and Ambassador Theatre Group.


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However, the PDMC decision may bring considerable criticism. In response, a handful of software developers at home and abroad voiced their common concerns. The seven-member software developers' council composed of Haansoft, Ahn Lab, Sejoong Namo Interactive, MicroSoft Korea, Adobe Systems, Korea Macro Media and Auto Desk said in a statement that the possible abuse of S/W streaming technology may have a serious impact on the software development industry.
by Paul Paik, Reporter / email@example.com
ot Infringement' 'Restriction is Kind of Rights Abuse': PDMC
Industry Stresses Negative Effects to SW Developers
The PDMC recently decided that Softonnet S/W streaming technology, Stream,"did not infringe copying, transmitting and remaking rights protected by the Computer Program Protection Act. It also ruled that the limit of S/W streaming by copyright holders through applying the one license for one PC formula and not offering reasonable license is an outright abuse of their rights.
The PDMC decision took form of an opinion presentation by the request of Softonnet, the S/W streaming technology holder, and the Korea Software Property Rights Council (SPC). It is significant that this is the first authoritative interpretation by the authoritative body.
With the PDMC decision, the hot controversy over S/W streaming will be initially subdued and the market for the S/W streaming, the key technology in the S/W on-demand sector will be invigorated. Actually, S/W streaming technology has been available to government, large companies and some universities. The Electronics and Telecommunications Research Institute (ETRI) has provided ondemand trial services. But reluctance by the copyright holders for fear of declining sales has hampered its activity.
The PDMC examined thoroughly the possible infringement of copying, transmitting and remaking rights in the S/W streaming case.
Regarding the copying right, as general users can not reach the contents of the cache file created through S/W streaming and the file can not be driven independently, the reuse of it is impossible. That why it decided that it is not associated with copyright infringement. The PDMC decision has brought harsh protest by related companies. Domestic and foreign software developers expressed common opinions, such as orrisome" over the PDMC interpretation on the use of the S/W streaming method.
The software developers' council said that the S/W streaming method may cause disorderly use of S/W and illegal copying regardless of copyright holding companies. It may also nullify software copyright as the private negotiating rights, the basic rights of copyright holders, are not guaranteed sufficiently. As a result, it may shake the overall S/W industry, the council worried.
As a way to solve the problem, the council stressed that the S/W streaming method should be used after sufficient consultation with copyright holding companies and agreement. Also, the council suggested simultaneous user limiting right should be given to copyright holders and the S/W streaming companies should report user logs automatically to copyright holders.
The PDMC decision was made in meetings of 20 experts from the government, industry and judicial world and will have a huge impact on law suits in this area.
With the legal case filed in May by the SPC against Juseong College of Cheongju now in process, the Cheongju District Court appears to view the decision positively.
Purchase of Z Stream by some major businesses, public offices and universities that wanted to buy this but held off due to the copyright infringement matter is expected soart.
Above all, this will likely trigger the development of new streaming technology and expand the market, industry observers said. The decision will help the country build a systematical base for innovating next-generation software distribution and services by linking Korea high-speed telecommunications networks and software streaming technology, they added.
Position of the 'Korea Software Property-right Council'
Domestic, Foreign S/W Copyright Holders Plan to Deliver Joint Statement
The Korea Software Property Rights Council (SPC) has expressed its position on the PDMC authoritative interpretation and recommendations regarding the controversial use of software based on streaming technology.
Regarding the DMC interpretation that streaming technologybased software does not violate copyrights, the SPC held a meeting of copyright holders and agreed to announce a joint statement. Each copyright holder will also visit the PDMC office to protest and explain to the MIC the situation that software developing companies will now face.
At the meeting, the participating firms claimed that the PDMC decision was not based on joint technological analysis with copyright holders and lacked unbiased standards for fair judgment. The decision to create a network license for Softonnet Z Stream ignored copyright holders' rights, they claimed, though the criteria for licensing can differ according to budget, manpower and size of each company.
Heo Han-beom, a director of Haansoft, pointed out that it is true that marketing skills should follow shifts in infrastructure, but an action to shake the base of the ust-emerging" software industry like this should be reconsidered.
Kim Kyu-sung, the SPC secretary general, said, he PDMC decision is deplorable, and as it doesn have binding force the legal suits now in progress will continue."


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Time for Navigator Awards
Ski Haus, Scott Ford to be recognized for customer service
Good customer service is a description often associated with the Ski Haus sporting goods store; some say it’s why the outdoor retailer has remained so successful over the decades.
Ski Haus owner Rod Schrage said loyal employees should receive the credit.
Regardless of who takes the credit, Ski Haus’ standard of excellence when it comes to customer service is a large reason why the Steamboat Springs store will be awarded Wednesday with the 2003 Business of the Year Navigator Award.
The Navigator Awards, which are presented annually to a local business and businessperson by the Steamboat Springs Chamber Resort Association and the Steamboat Pilot & Today, recognize businesses and individuals that raise the bar in terms of service, said Sandy Evans Hall, executive director of the chamber association.
Scott Ford is the 2003 Business Leader of the Year.
Evans Hall said customer loyalty, employee retention and customer service are some of Ski Haus’ award-deserving characteristics. She also credited the businesses numerous customer programs, including its birthday discount program.
“They just have these employees who you know will serve you (well),” Evans Hall said. “We’re always trying to find those businesses we can hold up there in terms of raising the bar and setting new standards.”
“We’re lucky we’ve had a lot of employees who’ve been around a long time,” Schrage said. “It’s helped us be consistent.”
Last year Ski Haus moved into its present location, a large retail space on the corner of U.S. Highway 40 and Pine Grove Road. Schrage said the new location was a huge step for the sporting goods store, but retaining the same qualities of the smaller store, such as strong service, was essential.
“Our goal is to stay the same,” Schrage said.
As the 2003 Business of the Year, Ski Haus will receive several gifts from the chamber association and the Pilot & Today.
Scott Ford, the 2003 Business Leader of the Year, was named the recipient of a Navigator Award for his numerous contributions to businesses and the local economy, Evans Hall said.
Specifically, Ford is being recognized for his commitment and work with the economic gardening program, Small Business Development Center, community indicators project and consumer preference study, in addition to setting up a local chapter of Service Corps of Retired Executives, or SCORE, Evans Hall said.
The Small Business Development Center, or SBDC, assists individuals considering starting their own business as well as existing businesses interested in achieving growth and profitability. It also serves as an information clearinghouse for small business resources by assisting in the collection, analysis and communication of community economic data, according to the SBDC Web site.
The SBDC, located on the Colorado Mountain College campus, offers free assistance to residents.
The SBDC has flourished under Ford’s leadership, Evans Hall said.
“He’s taken the SBDC far beyond what it was when he got there,” she said.
Ford also teaches classes and spends considerable time working with the Careers program at Steamboat Springs High School.
Evans Hall said Ford will leave the community a legacy of economic tools.
Both Navigator Awards will be presented during Wednesday’s 96th annual meeting and luncheon of the chamber association. The luncheon is scheduled for 11:30 a.m. at the Chart House restaurant. The public is welcome, but reservations must first be made through the chamber association. The cost is $25 per person.
Rob Perlman, president and chief executive officer of Colorado Ski County, will give the keynote address at the luncheon. Perlman will discuss the state of the Colorado ski industry, addressing such issues as the effects of the terrorist attacks of Sept. 11, 2001, Buddy Pass programs, Interstate 70 and others.
— To reach Brent Boyer call 871-4234
or e-mail email@example.com
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Six people were killed at a birthday gathering in Colorado Springs on Saturday. This mass killing received only about 2 inches of news copy in our local paper. It used to be that this would…


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Nintendo’s Sept. Direct for the Nintendo Switch is filled with expected announcements for the upcoming holiday season and the year.
“Super Mario 3D All-Stars” is a fantastic Switch port of three 3D Mario classics from the past 20 years with a few issues here and there.
To celebrate the 35th anniversary of the Mario franchise, Nintendo released a compilation of three past Mario games on Sept. 18.
The games included in All-Stars are “Super Mario 64”, originally released on the Nintendo 64, “Super Mario Sunshine”, originally released on the GameCube, and “Super Mario Galaxy”, originally released on the Wii. All-Stars though is a limited release and will only be available to purchase until March 31.


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The last three years of legislative sessions have taught us that there is almost always more to the story when it comes to legislation, especially when the Southern Poverty Law Center is involved. Year after year, the SPLC and their allies they have come to the Alabama Legislature with bills that they claim to be well-meaning when it comes to lending in Alabama and, year after year, less than pure motives come to light which have resulted in the defeat of these bills and with the embarrassment of some well-meaning legislators.
This year, it seems, that the SPLC and liberal activist Neal Berte have found a new partner when it comes to deceiving the Legislature to get their own way and line their own pockets – some of the state’s credit unions.
Now, some of Alabama’s credit unions have joined forces with the legally embattled SPLC and Berte to attempt to pass legislation they are calling “30 days to pay.” While attempting to persuade a new crop of freshman lawmakers to cosponsor this legislation, they paint a picture that is less than complete in order to gain their support. It is the information that is not being disclosed to legislators that make many lawmakers run from this bill.
Credit Unions are currently charging millions of dollars of fees to Alabama consumers – fees for insufficient funds or insufficient balances. The reality is that these fees are far more injurious to consumers that the fees charged on a payday loan.
Despite the wailing and gnashing of teeth, the root of this effort is not altruistic. According to MyCreditUnion.Gov, credit unions have a clear strategy to corner the marketplace in Alabama by providing a new line of products called Payday Alternative Loans which are identical to Payday Loans, in that they offer small-dollar loans to consumers FOR A FEE.
These Credit Unions don’t believe that they can compete with existing payday lenders in a fair, free market economy and so they have joined the SPLC to try to convince legislators to drive existing payday lenders out of business.
This will put thousands of Alabamians out of work so that they can take over the payday marketplace with little to no competition. If consumers can’t qualify for these credit union products — many won’t — and they will turn to an unregulated internet market where overseas lenders are ready to pounce.
It seems that they have borrowed their business philosophy from an old adage, “If you can’t compete, legislate.” For nearly 250 years in this country, the free market works better.
Recently the Trump Administration made it clear that they oppose Obama style policies like those in this legislation because they hurt lower income individuals by limiting their access to funds in an emergency. This effort by the credit unions takes those Obama era polices and mixes them with the sleezy tactics made popular by Obama’s Rahm Emmanuel. It is unclear how many freshman legislators will get caught in this web of deceit and accidentally support liberal, anti-capitalist policies because they didn’t know the real motivation behind the “30 days to pay bill.”


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MySpace creator calls for inquiry
Published 10:00 pm, Thursday, October 5, 2006
MySpace.com founder Brad Greenspan demanded a federal investigation into the sale of the networking Web site to News Corp., the media company led by Rupert Murdoch, claiming the deal defrauded shareholders of more than $20 billion.
In a report at Freemyspace.com, Greenspan alleges the sale defrauded shareholders of MySpace.com parent Intermix Media Inc. He is seeking an investigation by the Securities and Exchange Commission, the Justice Department and the Senate.
Greenspan sued MySpace.com in February, saying the $580 million paid by New York-based News Corp.'s Fox unit last year didn't reflect the growth prospects. Registered users at the social networking Web site have more than doubled this year. Greenspan said in his report that MySpace would be worth billions of dollars had it stayed independent and sold shares to the public.
"If MySpace had stayed independent, it wouldn't be worth as much as now," said Laura Martin, an analyst at Pasadena, Calif.-based Soleil Securities, who rates News Corp. shares "hold" and doesn't own them. "Fox created the value."
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News Corp. offered $12 a share for Intermix Media in July 2005. Greenspan, who owned 10 percent of Intermix, offered $13.50 a share three months later in an attempt to block the purchase. His offer was turned down by Intermix's board, which said it was unclear Greenspan could raise the money. News Corp. completed the acquisition later that month.
Greenspan reported Thursday on what he calls "deliberate steps" taken by MySpace's management to "withhold and manipulate information." He calls for an unwinding of the purchase.
In July 2005, Intermix Chief Executive Officer Richard Rosenblatt and Ross Levinsohn, the head of Fox's Internet unit, "knew MySpace was well on its way to being worth $20 billion at the time they struck the deal to sell," Greenspan said his report. He quoted e-mails between the two executives dated July 13, 2005, and July 18, 2005, on the day of the sale agreement, to back up his allegation.
"This is simply a case of sour grapes making for loud complaints," wrote MySpace spokeswoman Julie Henderson in an e-mailed statement. "We've strategically built this business since the acquisition and are just now beginning to realize real financial value."


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Finally, there is some good news for Huawei and Huawei fans. Huawei was recently blacklisted by the US and now US president Donald Trump has finally released the ban. Read more at bgr.in
The release of ban on Huawei will mean that Google can again start to work with Huawei. Google can also continue to provide its Android license to Huawei.
This release will enable Huawei to work towards becoming the next largest smartphone brand in the world.


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Recall issued for 30 lots of sterile products manufactured by Cantrell Drug Company.
The FDA announced that Cantrell Drug Company has recalled unexpired lots of their sterile products due to a lack of sterility assurance. These products were distributed to healthcare facilities from May to October of this year.
The use of a product intended to be sterile that has been contaminated could result in a serious, or life-threatening infection, the FDA reported in a press release. A majority of the 30 recalled products are intravenous drugs, which has the potential to cause severe adverse events if the contaminated product is administered.
Although there have been no reports of adverse events related to the recalled products thus far, discontinuing use of the products is an important step in preventing poor patient outcomes.
Cantrell Drug Company plans to contact individuals who purchased the affected products to inform them of the potential contamination, and arrange for the products to be returned.
For additional assistance, customers should call Cantrell Drug Company to discuss what should be done next. The FDA recommends that healthcare providers and patients report any adverse events to the FDA’s MedWatch Safety Information and Adverse Event Reporting program.
“Because patient safety is our top priority, we immediately began addressing the issues raised and are working closely with health officials,” said Dell McCarley, Chairman and CEO of Cantrell Drug Company. “We have received no reports of injury or illness, and it’s important to note that all of our sterile products are tested for sterility before they are shipped. We deeply regret the impact this voluntary recall has on providers and patients, but our culture is one of safety first and we take absolutely no chances.”


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Spotify users now stand 140 million-strong
Spotify has improved on its monthly active user tally by 40 percent over the course of a year.
The Sweden-based music streaming service announced that it has 140 million tune consumers. The majority of that total are on a free tier that includes a forced shuffle mode, ad inserts between songs and limited skips. At least 50 million are paying subscribers and forego the above inconveniences.
But the company’s Vice President and Global Head of Sales Brian Benedik points out that the free tier was able to generate a 50.3 percent year-over-year bump in ad revenues between 2015 and 2016.
“When you pair the emotional power of music, podcasts, and videos with engaging ad formats, the creative terrain is rife with possibility,” Benedik said.
The company is rumored to list directly with the New York Stock Exchange next year, skipping over an initial public offering.


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In Focus: Irish farmers and consumers are being “snubbed” by major retail chains, according to Alo Mohan, national poultry committee chairman of the Irish Farmers Association (IFA).
“The general position is that we have a feed crisis, lack of investment and retailers lacking the same enthusiasm [for local farms] as their English counterparts,” Mohan said speaking to Agriland.
Some large retail chains support local farms in the UK more than they do here, he claimed. “Aldi have gone 100 per cent Irish and SuperValu are 100 per cent Irish but we’re waiting on other chains to do the same to be equal party as the UK,” he said.
Mohan also claimed the agri-economy at large suffers when poultry takes a hit: “I always come back to the point that the poultry industry is tied in to the grain industry, which has a knock-on effect on the price of feed.
“The industry is sitting on a crossroads. If retailers commit to local farmers as they did in the UK a lot of jobs will be created and farms will expand. It’s up to the consumers to demand local product. The Irish consumers are not being given the same offers as is being done in Northern Ireland and across the UK.”
Another problem for Irish poultry farmers is narrow profit margins for chickens and eggs, which were the catalyst for a recent protest in retail chains across Ireland. “The margins are unrealistic,” claimed Mohan. “It’s a reflection of where we are that many farmers are finding it hard to comply with current directives.”
Waterford poultry farmer Ned Morrissey agreed margins are tight but says Irish people are demanding more Irish chicken. “Consumers seem to be looking for it more. Restaurants are seeing a rise in demand in that side, for example.”
What are the challenges facing poultry farmers?
“The biggest challenge is trying to make a profit,” Morrissey added. “All poultry farmers are struggling because margins are tight. Other than that, support seems good. You can’t work harder than you’re working because you have a set capacity and you can’t do more than that. You do your best but you hope that the money coming back would improve.”
Morrissey said costs have risen in recent times, but returns haven’t improved to compensate: “Costs have gone up over the past two or three years. Gas is one of our biggest bills and that’s gone up nearly 100 per cent. Unless returns from processors go up, a lot of poultry farmers are at best breaking even. “Margins have been squeezed to the point that farmers may have to choose to close their doors or continue at a loss.”


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Doubled gas tax drives N.L.'s inflation rate high above Canadian average
Premier: 'We had no choice, really, but to get the situation under control'
Newly introduced taxes in Newfoundland and Labrador are hitting consumers' pocketbooks, Statistics Canada has found, and helping push the province's inflation rate to the top of the country.
Additional taxes on insurance premiums and gasoline, along with the increase in the provincial HST, can help explain why the province's inflation rate is soaring — coming in well above the Canadian average.
Kyle de March, an analyst at Statistics Canada, says those factors are at the top of the list when looking at the change in the province's consumer prices.
"They weren't just increasing provincial components of the HST, there were other taxes that were added on as well," de March said Monday night. "So for example, gasoline is playing a very big role in Newfoundland and Labrador."
Taxes playing big role
The Consumer Price Index in Newfoundland and Labrador rose 4.1 per cent in December, data released by the statistical agency Friday showed.
That compares to a 1.5 per cent increase across the country. In New Brunswick, which saw the second-highest inflation rate, the CPI rose just 2.3 per cent.
The index, an approximation for the cost of living, means the after-tax prices of a selected basket of goods in Newfoundland and Labrador is 4.1 per cent higher in Dec. 2016 than it was in Dec. 2015.
Gasoline and home insurance prices were among the biggest risers in Newfoundland and Labrador, and the new taxes are playing their part.
- Gas prices soar in N.L. as much-dreaded tax hike takes effect
- HST, gasoline and income taxes all jump in N.L. budget
In its 2016 budget, the provincial government introduced a slew of tax increases in response to a massive provincial deficit.
The HST rose from 13 per cent to 15 per cent, a provincial 15 per cent tax is now applied to insurance premiums, and taxes totaling about 18.65 cents were added to every litre of gasoline. The base gas tax effectively doubled in last April's budget.
"Obviously, part of it is taxes," de March said.
The price of gasoline, however, rose about 29.3 per cent compared to the previous year, de March said — bigger than just the tax increase. So you can't blame everything on the budgetary measures, he says.
"You see in other parts of the country, where there haven't been amendments to tax rates, we're still seeing inflation," he added.
"It definitely plays a role, but … you can't say that taxes made an impact across the board, on every consumer good that was purchased."
Not every price increased — according to Statistics Canada, prices of fresh and frozen beef, cheese, vegetables and kitchen utensils fell year over year.
Tough choices, temporary measures: Ball
Speaking to reporters on Tuesday, Premier Dwight Ball said he knew that some of the budget measures his government implemented would have an impact on consumers.
However, he said, given the financial state of the provincial government, there was little choice.
"Many of those … are temporary measures and short-time measures that we had no choice, really, but to get the situation under control and we did that last year," he said.
He says Newfoundland and Labrador is still an economically competitive province, on the whole, for residents and businesses.
He pointed to the low cost of education, and the fact the province's HST is on par with the rest of Atlantic Canada.


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LAS VEGAS – Held at the Las Vegas Convention, World Trade Center and other nearby hotels, there will be roughly 2,800 exhibitors and 140,000 people in attendance at this year’s International Consumer Electronics Show – the largest trade show in the Americas.
If you want to stay on the forefront of consumer electronics and technology, there is no better place to be.
Yesterday morning, Microsoft CEO Steve Ballmer gave the kickoff speech to get things underway. According to Microsoft, this will be the last year in which a CEO or booth delivers the customary opening speech.
The conference floor will be open until Friday and covers over 1.8 million square feet (roughly 31 football fields) so a handheld GPS might be a smart pickup for the wise techy lucky enough to cover such an event.
Although the conference is only open to those in the consumer electronics industry (a business card/ID is required for entry) there is still a lot that will be generated for the average consumer. We just have to wait a few days for the unveiling of the future of consumer electronics.
Today, Keynote speeches are scheduled from Paul E. Jacobs, chairman and CEO of chip-maker Qualcomm Inc., Dieter Zetsche, CEO of German automaker Daimler AG, and Paul Otellini, president and CEO of chip-maker Intel Corp. Many other celeberties and others who’ve recently ventured in the consumer electronics industry, like 50 Cent, will be in attendance as well.


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Bitmain’s Antminer says that Bitcoin rig sales will go ahead following former CEO Jihan Wu’s sudden departure. It is also to be noted that last year due to corporate infighting, chip shipments were temporarily halted.
A news post on cointelegraph stated that Bitmain, a Bitcoin mining rig manufacturer, has said that business operations will continue despite CEO Jihan Wu’s untimely departure from the organization.
It can be recollected that Bitmain’s ASIC mining rigs operations were stopped briefly last year in 2020. That was because of infighting and politics among the top leaders in the company. The Beijing-based hardware company saw their main founders Micree Zhan and Jihan Wu, trying to oust each other of the company.
Zhan had temporarily stopped one of their subsidiaries in Shenzen from shipping products. Crypto Coin Growth is a portal on cryptocurrency had this to tweet on the departure of Jihan Wu.
Bitcoin (BTC) mining rig manufacturer, Bitmain, has issued a notice to customers stating that normal business operations will resume as normal in light of former CEO and chairman Jihan Wu’s departure from the company.https://t.co/75uIlbiGpG
Jihan Wu left the company abruptly on Wednesday after buying shares from Zhan and other shareholders worth $600 million. The team released a statement saying that business will go on as usual.
Bitmain’s Antminer wants to inform you that sales and services will go on as usual despite the internal changes that have happened in the company. Micree Zhan and Jihan Wu founded Bitmain in the year 2013.
They both managed to take it to new heights because, in 2018, it was the largest manufacturer of ASIC machines that were used in Bitcoin mining. Bitmain also runs two mining pools, Antpool and BTC.com.
Antpool and BTC.com collectively account for 20% of Bitcoin mining and 30% of Bitcoin Cash (BCH) mining. Bitmain influence has seen its share of drama internally. In 2017, hard fork saw Bitcoin Cash broke away Bitcoin.
The company then sided with Bitcoin Cash during the hard fork. It was a problem because there were disagreements on the size of the blocks used in Bitcoin’s design. Additionally, they also managed to get a massive contract of $35 million from Riot Blockchain.
Riot Blockchain placed an order for 15,000 of its Antminer S19 series machines. Riot Blockchain is a Nasdaq-listed cryptocurrency mining firm. According to BitInfoCharts, investors were concerned about the unsold merchandise from the New Year period.
However, those fears have been evaporated, with Bitcoin mining’s profitability rising by more than 300%.
China may be tough on Cryptocurrency trading; however, Bitcoin mining is seen to be a significant operation amongst Chinese cryptocurrency enthusiasts. In the last few months, BTC miners have been slowly fading off in China due to the bear markets, even going to the extreme of selling off their mining equipment by the kilos.
According to 8btc, a Chinese blockchain and crypto news source, miners in China have been stocking up on Application-Specific Integrated Circuit (ASIC) chips. The main reason cited is the anticipation of the Bitcoin halving which is expected in May 2020.
Current Bitcoin Mining Profitability
As of now, Bitcoin mining may have almost zero profits. However, as the halving gets closer, it is expected to rise dramatically.
Bitcoin’s halving is expected to reduce inflation by 50%, and according to past statistics, Bitcoin will rise in price. Currently, miners receive 12.5 Bitcoins per block mined, and this will further drop to 6.25 Bitcoins in the next halving.
Companies such as Bitmain has faced a severe turn of events due to the bear markets in Cryptocurrency, with significant downsizing and delays in their IPO. However, with things picking up, Bitmain may start to walk.
Chinese Bitcoin Miners Getting Creative
The Chinese Bitcoin miners are doing all they can to reduce the costs of mining. From negotiating the best rates of buying used mining equipment to making deals with hydroelectric plants and mining farms.
Hydroelectric plants are bound to gain excess electricity generated thanks to a heavy rainy season this year.
It’s pretty clear bull season is around the corner, and both Cryptocurrency investors and miners are getting ready. Mining equipment makers, on the other hand, will not profit as much as second-hand mining equipment are rising in demand.
Put it this way – the Bitcoin mining is not for the faint of heart.
Mining was once a hobbyist activity for crypto enthusiasts running Bitcoin nodes for fun and a sense of community more than to make money. Sure, there were always believers, but many people were just excited at the prospect of making their own, as Bitcoin godfather Andreas Antonopoulos calls it, “nerd money” without ever really considering the possibility that one day a Bitcoin would be worth even a single cent, let alone thousands of dollars.
Mining is now a multi-billion dollar industry, with extreme risks and cut-throat competition. pressure of the bear market causing operations to mine at a loss, hoping for the best and in a bizarre but understandeable turn of events, even leading some miners to short the Bitcoin market to hedge against losses.
One of the criticisms of Bitcoin mining is that it favors the wealthy miners more and more as time goes on, with smaller operations being squeezed out in favor of huge, sprawling mining farms worth hundreds of millions of dollars.
The competitive and unforgiving nature of the industry was quite dramatically illustrated by the rise and fall of heavyweight mining hopeful GMO Internet, which proudly announced the production of an ASIC miner with higher performance capabilities than the Bitmain S9.
GMO Internet Takes On The World
GMO Internet probably thought they had it made. They had just released a miner more powerful than that of the most powerful mining company on the planet – what could go wrong?
The company’s downfall is beautifully described in a blow-for-blow tweetstorm written by Yasmine Elmandrja of ARKInvest:
1/ The miner hardware industry is ruthless. Competition has exploded. Competitive edges have been destroyed. Hardware commoditization is upon us.
GMO Internet calling it quits just 6 mo. after announcing the launch of their miner hardware service.https://t.co/gt71jOnu5K
GMO didn’t just announce the launch of their new 7 nm miner, but boldy declared war on Bitmain while they were at it. While stating that they had respect for their top competitor, GMO said they would “top Bitmain” which is worth $12 billion USD at last count and become the number one leader in Bitcoin mining hardware manufacturing.
Unfortunately for GMO, Bitmain’s S9 wasn’t the only competition – just the most visible one. Bitmain is large enough to lose and still win, absorbing failed experiments into the gigantic budget they’ve generated through years of success and market dominance. While GMO Internet is actually a larger company, their foray into Bitcoin mining was short lived.
GMO failed to do their homework – they beat the S9 alright, but so did several other mining companies whose products are portrayed in the chart above.
More accurately, the net present value (NPV) or profitability over time of those products is shown in the chart. You’ll find those competitors on the profitable side of the chart – unlike GMO.
Crash And Burn
The least profitable of six different products, GMOs miner launch was a massive failure which gained no traction, took gargantuan losses, and the internet giant ended up having to crash out of the mining industry altogether, selling off its machines wholesale and announcing a staggering loss of $218 million USD.
The whole mess goes to highlight the incredibly high stakes of the industry and the ever-shifting and improving standard of hardware quality. GMO Internet will live, but taking such a huge loss after announcing world domination is bound to have wounded the company’s pride and coffers a little, yet another casualty of the brutal “crypto winter” that continues to impact companies throughout the industry.
For years, centralization of Bitcoin mining has been a fear among network participants. Die-hard bitcoin evangelists and capitalist day traders alike agree that one entity controlling the hash rate could spell catastrophe for Bitcoin and for the cryptocurrency space as a whole, completely undermining the underlying principles described in the Bitcoin whitepaper and completely destabilizing the market and price action as well.
Bitmain, the world’s largest manufacturer of specialized ASIC Bitcoin mining equipment, is often accused and suspected of having a disproportionately high level of influence over the hash rate due to the giant mining pools like BTC.com and Antpool which are under its control.
A report in July indicated that Bitmain actually already controlled 42% percent of the hash rate, a stunningly high figure with BTC.com controlling 2.5% and Antpool controlling 16.5%.
An entity in control of 51% of the hash rate or higher would essentially have free reign over the network, being able to reject or accept transactions at will and carry out 51% attacks, whipping money out of thin air to become rich at the expense of the integrity of the network.
A successful 51% attack on Bitcoin would make the attackers incredibly wealthy while also catastrophically impacting the price of Bitcoin, perhaps permanently, due to the loss of trust in the network. While Bitmain are getting incredibly wealthy simply by manufacturing effective mining equipment, there is arguably an incentive for the company to attack Bitcoin simply to strengthen the Bitcoin Cash project, although CEO Jihan Wu has never given an indication that he would be interested in doing that.
For many, 42% is far too high for one company to control, and there are theories that Bitmain secretly controls other pools as well.
However, the 42% seen in July has actually dropped significantly instead of increasing as expected.
As you can see from today’s report from Coin Dance, BTC.com now controls 15.2% and Antpool controls 13.9%, a total of 29.1%.
Why the sudden drop? The answer may lie in the recent lack of innovation seen in Bitmain products coupled with the increasingly more effective hardware released by other companies finally starting to break Bitmain’s ominous monopoly on the largest cryptocurrency network in the world.
We covered the various mining companies and hardware options in our recent article “Mining Wars,” which showed that Halong and other companies are doing great work catching up and surpassing Bitmain’s performance. but what has Bitmain been up to?
Bitcoin mining commoditization: it’s happening, and it alleviates one of the greatest historic threats to the network’s decentralization. https://t.co/zygopbb4jH
Adamant Capital founder Tuur Demeester describes the breaking of the monopoly as the “Commoditization of Bitcoin,” and agrees that the threat to the network is significantly lower with Bitmain operating on a more level playing field.
Demeester cites a recent twitter thread posted by Blockstream’s Samson Mow, someone in indirect competition with Bitmain due to the company’s support for Bitcoin Cash over Bitcoin. Mow frequently posts critiques of Bitmain’s progress and activities, but this time there may be some substance to what he’s saying.
Bitmain’s New Release a Letdown?
Mow used to work as COO for BTCC crypto exchange before heading up Blockstream, and while he is enormously biased when it comes to discussing Bitmain, it’s safe to say that he knows his Bitcoin mining.
“Let’s take a closer look at Bitmain’s announcement at WDMS Mining Conference for their “next gen” 7nm ASIC chips. To most people this may seem like a big deal and good news, but actually the announcement shows things aren’t looking too good for Bitmain.”
Mow states that the announcement is vague and fails to mention when exactly the new next-gen chip miners will be released for public sale, which is true.
The announcement also states that the 7nm chip will include over a billion trannsisters. Mow says that the statement is deliberately misleading, stating that chip with a billion transistors “sounds impressive to people outside the industry, but it’s not.” It’s like saying “the car will have 4 wheels,” according to Mow, and 8nm or 10nm chips could eqally have a billion transistors.
The next bone Mow has to pick with Bitmain is the “lab testing” statement. Bitmain reports results of 32J/TH energy efficiency in lab testing – however, as Mow points out, lab testing always demonstrates the peak performance in ideal lab conditions which are nearly impossible to replicate outside of the manufacturer’s laboratory, making this an inflated figure which does not reflect the energy efficiency which will be experienced by Bitmain customers, as the average efficiency rating is still unknown.
It’s also worth pointing out that these are the results for the chip itself, not an entire bitcoin miner – it is unclear how relevant the results be if at all once the chip is tested inside an actual ASIC miner.
Mow also mentions that the S9’s chip was initially marketed as having an energy efficiency rating of 75J/TH. In real world situations, the S9 runs at around 98J/TH, or about 30% higher power consumption than reported in the lab. “So it’s likely the new Bitmain miner with 7nm chips runs at 55J/TH at best.”
Mow compares the Bitmain announcement, which explained that a new chip had been made for release “soon” along with lab test results outside of a miner, to the launch of the WhatsMiner M10 which had a live miner demo with real stats not measured in lab conditions.
Finally, Mow points out that the WhatsMiner uses a 16nm ASIC chip which can be manufactured at half the cost of a 7nmchip, and speculates that even if the 7nm launch results in a good quality miner, the cost may be too high for it to be a feasiboe solution for many miners.
This is all rather incredible sounding given the huge monopoly Bitmain has historically had on Bitcoin mining. Could it be that the tables are beginning to turn and other competitors will begin to snap up larger tracts of the has rate?
Apart from the usual concerns associated with capitalist monopolies, the healthy competition from other miners should indeed prove to bring Bitcoin mining back from the brink of total vulnerability and into a more manageable zone of free market competition and decentralization.
As Bitmain’s disastrous Q2 financials have yet to be released, investors aren’t thrilled with the company. Some have even gone so far as to start asking for their money back.
It’s now been more than 60 days since the end of Bitmain’s second quarter, and the company has yet to release their numbers. This has left many investors skeptical about Q2’s numbers, and also at the fact that there were no big names that invested in the company’s IPO.
IPO Investors Unhappy
With the recent events that have taken place, Wu Jihan, Bitmain’s co-founder, is now rushing to put together a $1 billion pre-IPO round before Q2’s numbers are released.
So far, the pre-IPO is not looking very promising. For the most part, investors have not been happy with Bitmain’s actions, and some have even begun asking for money back or demanding considerable discounts for being part of the IPO.
Fear Of Missing Out
In the past, Bitmain has made mentions of several big names that were interested in investing in the company’s IPO. However, as more information comes to light, the big names that Bitmain mentioned, such as Softbank, Tencent, and Temasek, are nowhere to be found.
Many investors have now been lead to believe that Bitmain only mentioned such names in hopes of creating FOMO and drawing more people to invest in the IPO. Investors are unhappy with Bitmain, not just about the lack of interest from big name companies, but also at the deteriorating numbers concerning the IPO.
As it stands, Jihan is still on call with investors. However, it would seem that his, as well as his company’s name, has been significantly tarnished by the recent events.
According to recent Tweets, Bitmain’s contracts are crafted in adherence to Hong Kong Law, which strictly prohibits any omission of information. Due to this, there have been rumors of investors looking to file lawsuits against the company.


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Japanese Airline Celebrates 'Star Wars: The Force Awakens' with a Giant R2-D2 Airplane
To coincide with the release of the newest Star Wars: The Force Awakens trailer on Thursday, Japanese airline All Nippon Airways announced the launch of a massive airplane painted to look like R2-D2. It's the coolest new Star Wars vehicle since the BB-8.
Scheduled to begin flights in fall 2015, the droided-up Boeing 787-9 Dreamliner is part of ANA's larger campaign, the "Star Wars Project," planned through 2020. (Though ANA's Star Wars website doesn't give much detail, the campaign will supposedly "connect Japan to the global market.")
Disney's new Star Wars: The Force Awakens (commonly known as Star Wars Episode VII) is scheduled to hit theaters this December and promises to be one of the biggest film events in years. So it makes sense everyone's favorite R2 unit will be taking to the skies in celebration.
This is what happens when Disney takes over a film franchise — it bought Lucasfilm Ltd. for $4 billion in 2012. Hopefully, it means more follow-up paint jobs to stick with the droid theme. ANA already owns 34 Dreamliners, and C-3P0 certainly deserves his own line of transcontinental luxury planes.
This isn't the first time a Japanese company has gone the adorable route with aircraft, so maybe airplanes designed like space robots isn't a shock. But it means there's one real question left on every Stars Wars fan's mind: If this iteration of R2-D2 is a giant airliner, how big would Princess Leia's hologram be?